WASHINGTON - APRIL 23: U.S. President Barack Obama holds a meeting with officials from the credit card industry at the White House April 23, 2009 in Washington, DC. At the meeting were (clockwise from bottom left) HSBC Senior Vice President and Chief Operations Officer Patrick Burke, Global Head of Strategy for VISA William Sheedy, Bank of America Global Card Services President Richard Struthers, American Express Executive Vice President and General Manager for Consumer Cards Lawrence Sharnak, U.S. Bankcorp Vice Chairman for Payments Pamela Joseph, Capital One Financial Corporation President of Cards Ryan Schneider, JP Morgan Chase Card Services CEO Gordon Smith, MasterCard Worldwide US Markets President Christopher McWilton, Discover Financial Services CEO David Nelms and others. The CEOs were invited to speak with Obama about high fees and predatory lending practices. The timing is hard for the companies as the House Financial Services Committee approved legislation cracking down on credit card billing practices on Wednesday. Getty Images logo Getty Images 7 months ago

WASHINGTON - APRIL 23: U.S. President Barack Obama holds a meeting with officials from the credit card industry at the White House April 23, 2009 in Washington, DC. At the meeting were (clockwise from bottom left) HSBC Senior Vice President and Chief Operations Officer Patrick Burke, Global Head of Strategy for VISA William Sheedy, Bank of America Global Card Services President Richard Struthers, American Express Executive Vice President and General Manager for Consumer Cards Lawrence Sharnak, U.S. Bankcorp Vice Chairman for Payments Pamela Joseph, Capital One Financial Corporation President of Cards Ryan Schneider, JP Morgan Chase Card Services CEO Gordon Smith, MasterCard Worldwide US Markets President Christopher McWilton, Discover Financial Services CEO David Nelms and others. The CEOs were invited to speak with Obama about high fees and predatory lending practices. The timing is hard for the companies as the House Financial Services Committee approved legislation cracking down on credit card billing practices on Wednesday.

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  1. Indonesian activists wear masks featuring US President Barrack Obama (L), Indonesian President Susilo Bambang Yudhoyono (2nd L), President of the European Commission Jose Manuel Barroso(2nd R) and Australian Prime Minister Kevin Rudd during a protest against biodiversity offset programs, in Jakarta on November 18, 2009. Scores of environment activists held a protest against the program of biodiversity offset as they believed that biodiversity offsets are conservation activities intended to compensate for the residual, unavoidable harm to biodiversity caused by development projects, and is not the real solution and will ruin ecological dignity of developing countries.
  2. OREM, UT - NOVEMBER 16: In this photo illustration, a copy of Sarah Palin's book 'Going Rogue' sits on end on a display in the back room of a Costco November 16, 2009 in Orem, Utah. The Orem Costco received between 800-900 copies of the book which will go on sale tomorrow.
  3. OREM, UT - NOVEMBER 16: Gary Haynes (R) and Matt Cross (L) open boxes of Sarah Palin's book 'Going Rogue' as other books sit on a display in the back room of a Costco November 16, 2009 in Orem, Utah. The Orem Costco received between 800-900 copies of the book which will go on sale tomorrow.
  4. OREM, UT - NOVEMBER 16: Matt Cross (R) puts copies of Sarah Palin's book 'Going Rogue' on a display in the back room of a Costco November 16, 2009 in Orem, Utah. The Orem Costco received between 800-900 copies of the book which will go on sale tomorrow.
  5. OREM, UT - NOVEMBER 16: Gary Haynes (R) and Matt Cross (L) put copies of Sarah Palin's book 'Going Rogue' on a display in the back room of a Costco November 16, 2009 in Orem, Utah. The Orem Costco received between 800-900 copies of the book which will go on sale tomorrow.
  6. OREM, UT - NOVEMBER 16: Gary Haynes (R) and Matt Cross (L) put copies of Sarah Palin's book 'Going Rogue' on a display in the back room of a Costco November 16, 2009 in Orem, Utah. The Orem Costco received between 800-900 copies of the book which will go on sale tomorrow.
  7. Lawrence Summers (R), director of the White House's National Economic Council, answers a question during an interview with Maria Bartiromo (L) of CNBC at the Newseum in Washington October 2, 2009. The interview was part of the First Draft of History event, held by the Atlantic Magazine and the Aspen Institute to bring together newsmakers, historians and journalists.
  8. Maria Bartiromo (L) of CNBC interviews Lawrence Summers (R), director of the White House's National Economic Council, at the Newseum in Washington, October 2, 2009. The interview was part of the First Draft of History event, held by the Atlantic Magazine and the Aspen Institute to bring together newsmakers, historians and journalists.
  9. Ernersto Zedillio (L), former President of Mexico, Christina Fernandez de Kirchner (2nd from L), President of Argentina, Jan Peter Baikenede (C), Prime Minister of the Netherlands, Dominique Strauss-Kahn (2nd from R), Managing Director of the International Monetary Fund and Lawrence Summers (R), Director of the U.S. National Economic Council, participate in a panel discussion at the Clinton Global Initiative in New York, September 22, 2009. About 1,200 participants including heads of state, business leaders, humanitarians and celebrities are attending the fifth annual Clinton Global Initiative (CGI) which started on Tuesday.
  10. Lawrence Summers, White House chief economic adviser, speaks at the Buttonwood Gathering, Friday, Oct. 16, 2009 in New York. "A return to the status quo is unacceptable," Summers said. Banks must increase capital cushions and accept regulation and not be able to choose their own regulator, "playing one against the other," he added.
  11. Lawrence Summers, White House chief economic adviser, speaks at the Buttonwood Gathering, Friday, Oct. 16, 2009 in New York. "A return to the status quo is unacceptable," Summers said. Banks must increase capital cushions and accept regulation and not be able to choose their own regulator, "playing one against the other," he added.
  12. Lawrence Summers, director of the White House's National Economic Council, departs after an interview at the Newseum in Washington, October 2, 2009. The interview was part of the First Draft of History event, held by the Atlantic Magazine and the Aspen Institute to bring together newsmakers, historians and journalists.

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